Block Stock Is Sliding After Hours: What's Going On?
Portfolio Pulse from Adam Eckert
Block Inc (NYSE:SQ) announced a CEO transition for its Square business, with Alyssa Henry set to depart the company effective Oct. 2. Block head and chairperson Jack Dorsey will serve as the new Square CEO. Block shares are trading lower in Monday's after-hours session following the announcement.
September 18, 2023 | 8:49 pm
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Block Inc's announcement of a CEO transition for its Square business has led to a drop in its share price in the after-hours trading session.
The announcement of a CEO transition, especially when it involves a key figure like Alyssa Henry, can create uncertainty among investors, leading to a drop in the company's share price. The impact is more pronounced given that the new CEO, Jack Dorsey, is also handling other major roles within the company.
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